FORD - Too Early To Short?

Yesterday I exited my short position on this one and I have been closely monitoring it to find a good price to re-enter as a short. Today it opened above 9.3 but dropped to as low as 8.72 afterwards. Although it dropped around 20 cents from previous close (9.10) and 60 cents from today's high (9.45), I can see strong support at 8.7-8.8 and shorts just couldn't push it down below this level.

So here's what I'm gonna do. Long FORD here at 8.7-8.8, put a stop-loss at 8.48 and see what happens. If NAS holds 2080 well today, there's a great chance that it will break 2010 soon thus FORD will probably follow it to break to new 52-week high (Many shorted FORD between 8.4-9 and most of them will cover if NAS breaks). However I do not think it will break 10 from chart pattern and overbought stochastics, so high 9s will probably be a great spot to go short from my experiences. We will see what happens soon:)